Hi,
I think I got antoher suggestion for you: The roku soundbridge m1001 (also sold by pinnacle). Its the same price like the noxon 2, looks much better (also better display), supports wpa with a firmware-update...
The only disadvantage is 11mbit to 54mbit of the noxon 2 (which should make no difference for mp3s). Some days ago, I also had to decide between those devices and I ordered the soundbridge, because the user-ratings for the soundbridge were much better. The slimdevice is better than both (I think?) but it costs more...
For the noxon 2 and soundbridge I can say that they both should support itunes and there is already an itunes-server set up on the wl-700ge. However, that mediaserver is crap (no id3 tags?), so I installed mt-daapd and it works fine for me I still try to run twonky on my router, but there seems to be a problem with this piece of software, but I'm working on it
I hope I could help you.